Labour and Australian Financial Reform We have written elsewhere in
a leading article about the finances of Australia, and Mr. Kiddy has recorded the opinion of the City on the same subject. Here we need only add one other fact. A Conference of the New South Wales Labour Party has passed resolutions strongly hostile to the proposed reforms. The Conference demanded the rejection bodily of Sir Otto Niemeyer's scheme and threatened any Labour Member of Parliament who accepted the scheme with expulsion from his Party. It also called for a repudiation of Australian War debts and a moratorium for the interest on all ordinary oversea debts. Some such counter-move to the general determination to put the country's financial house in order was expected, but in the present mood of Australia it may have the effect of making people more resolute than ever not to be led astray again by the counsels which brought them to their present distress. * * * *
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